Global bond sell-off reignites as oil jumps above $105
US 30-year borrowing costs hit highs as falling Saudi oil production gives fresh impetus to rally in crude prices
Source: Financial Times
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DW NOTE
Saudi Arabia cuts production into the middle of a supply crisis that has already taken 6-7 million barrels per day offline. The bond market is pricing the consequence: a Fed that can't cut rates because the energy shock has turned disinflationary hope into cost-push reality. The 30-year just hit new highs because Treasury buyers now understand they're financing $1.9 trillion deficits in an economy where input costs are compounding, not moderating.